Investor is seeking control of US real estate company in push to transform his hedge fund into a diversified financial group
Billionaire investor Bill Ackman has said he is seeking to build a “modern-day Berkshire Hathaway” that takes control of companies in an attempt to transform his hedge fund into a diversified financial giant. Ackman’s Pershing Square on Monday offered to buy millions of shares it does not already own in Texas real estate developer Howard Hughes Holdings, in a deal worth more than $1bn.
Last year, Ackman opened Pershing Square to an outside investor for the first time, selling a 10 per cent stake at a $10bn valuation. Ackman’s proposed acquisition of Howard Hughes is the culmination of more than a dozen years in which Ackman has chaired and built up the property operator, which once was a collection of properties spun off from mall operator General Growth Properties during its financial crisis-era bankruptcy.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Berkshire's Big Picture: 9 - 15 December 2024Showcasing the best images sent to us from around Berkshire.
Read more »
Berkshire's Big Picture: 16 - 22 December 2024Showcasing the best images sent to us from around Berkshire.
Read more »
Berkshire's Big Picture: 16 - 22 December 2024Showcasing the best images sent to us from around Berkshire.
Read more »
Berkshire's Big Picture: 16 - 22 December 2024Showcasing the best images sent to us from around Berkshire.
Read more »
Berkshire's Big Picture: 16 - 22 December 2024Showcasing the best images sent to us from around Berkshire.
Read more »
Berkshire's Big Picture: 16 - 22 December 2024Showcasing the best images sent to us from around Berkshire.
Read more »